You will not believe the rent Zara is paying for its new store

Much to the relief of south Mumbai’s shopaholics, Zara will be opening a new store in the Ismail Building near Flora Fountain. The whopping price tag of renting the space is nothing short of 30 crores a year, with a minimum five-year lock-in period. Reportedly, this is the largest overseas space-related transaction made by a high street brand.

The 50,000sqft space will definitely make for happy customers who frequent the brand on a regular basis. As for making the monthly rent of 2.5 crores, it’s clear the estimated monthly sales will not disappoint the retailer.